JTTZX — JPMorgan SmartRetirement 2020 Fund
Data updated: 2025-05-28
JTTZX — JPMorgan SmartRetirement 2020 Fund. Target Date / Glide Path Allocation · $1.12B AUM. Holdings, fees, performance and SEC filings.
JTTZX Fund Overview
JTTZX — JPMorgan SmartRetirement 2020 Fund is a US mutual fund managed by JPMorgan Trust I, categorised as Target Date / Glide Path Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: JPMorgan Trust I
- Category: Target Date / Glide Path Allocation
- Assets under management: $1.12B
- 1-year return: 4.9%
- Ticker: JTTZX
- SEC CIK: 0001217286
- SEC series ID: S000011874
- Share class ID: C000070630
JTTZX Investment Objective and Strategy
JPMorgan SmartRetirement 2020 Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by JPMorgan Trust I.
Investment objective
The Fund seeks high total return with a shift to current income and some capital appreciation over time as the Fund approaches and passes the target retirement date.
Principal investment strategy
The JPMorgan SmartRetirement 2020 Fund is a fund of funds that primarily invests in other mutual funds within the same group of investment companies, and is generally intended for investors expecting to retire around the year 2020 (target retirement date). The Fund is designed to provide exposure to a variety of asset classes through investments in underlying funds, and over time the Funds asset allocation strategy will change. The glide path depicted in the chart below shows how the Funds strategic target allocations among asset and sub-asset classes generally become more conservative as the target retirement date approaches (i.e., more emphasis on fixed income and less on equity). The table accompanying the chart is simply the glide path in tabular form. Strategic Target Allocations 1 Years to Target Date 40+ 35 30 25 20 15 10 5 0 -5 -10 Equity 86.0% 86.0% 86.0% 86.0% 79.0% 72.0% 62.0% 52.0% 36.0% 36.0% 36.0% U.S.
Large Cap Equity Funds 37.8% 37.8% 37.8% 37.8% 34.7% 31.7% 27.3% 22.9% 15.8% 15.8% 15.8% U.S. Small/Mid Cap Equity Funds 8.7% 8.7% 8.7% 8.7% 8.0% 7.3% 6.3% 5.3% 3.7% 3.7% 3.7% REIT Funds 5.2% 5.2% 5.2% 5.2% 4.8% 4.3% 3.7% 3.1% 2.2% 2.2% 2.2% International Equity Funds 25.8% 25.8% 25.8% 25.8% 23.7% 21.6% 18.6% 15.6% 10.8% 10.8% 10.8% Emerging Markets Equity Funds 8.6% 8.6% 8.6% 8.6% 7.9% 7.2% 6.2% 5.2% 3.6% 3.6% 3.6% Commodities 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Commodities Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Fixed Income 14.0% 14.0% 14.0% 14.0% 21.0% 28.0% 38.0% 48.0% 59.0% 59.0% 59.0% U.S. Fixed Income Funds 9.5% 9.5% 9.5% 9.5% 16.0% 22.4% 30.4% 35.0% 37.5% 37.5% 37.5% Inflation Managed Funds 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.5% 9.0% 9.0% 9.0% High Yield Funds 3.0% 3.0% 3.0% 3.0% 3.3% 3.6% 4.9% 6.6% 9.1% 9.1% 9.1% Emerging Markets Debt Funds 1.5% 1.5% 1.5% 1.5% 1.8% 2.1% 2.8% 3.0% 3.4% 3.4% 3.4% Money Market Funds/Cash and Cash Equivalents 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0% Money Market Funds/Cash and Cash Equivalents 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.0% 5.0% 5.0% Note: Above allocations may not sum up to 100% due to rounding.
1 As of 11/1/18, the Fund utilizes mutual funds and, to a lesser extent, exchange-traded funds (ETFs) to implement its strategic target allocations although the Fund also has flexibility to utilize other direct investments in securities and derivatives to implement its strategic target allocations in the future. The glide path shows the Funds long term strategic target allocations as of November 1, 2018. The Funds actual allocations may differ due to changes to these strategic target allocations or due to tactical allocations. In establishing the Funds strategic target allocations, the Adviser focuses on asset classes and underlying funds that the Adviser believes will outperform the S&P Target Date 2020 Index (the Funds benchmark) and peer group over the long term. The Adviser will use tactical allocations to take advantage of short to intermediate term opportunities through a combination of positions in underlying funds and direct investments, including derivatives.
The Adviser will review the Funds strategic target allocations shown in the glide path at least annually (generally, in the first quarter of each calendar year), and may adjust the targets in its discretion, consistent with the Funds investment strategy. These changes might include modifying the existing strategic target allocations among the asset and sub-asset classes or, among other things, adding or removing asset and sub-asset classes or maintaining long-term strategic target allocations for longer or shorter periods of time. Consistent with this strategy, the Funds strategic target allocations shown in the glide path and table above may be different from the Funds actual strategic target allocations by +/- 5% for the equity, fixed income, money market/cash and cash equivalents and commodity asset and sub-asset classes.
Additionally, as a result of short to intermediate term tactical allocations, the Fund may deviate from the strategic target allocations at any given time by up to +/- 15% for fixed income, +/- 10% for equity, +/- 20% for money market/cash and cash equivalents and +/- 5% for commodity asset and sub-asset classes. The Adviser will review its tactical decisions on a periodic basis and may make modifications in its discretion. As a result of the Advisers ability to make these modifications, the Funds actual allocations may differ from what is shown in the glide path and table above. Updated information concerning the Funds strategic target allocations and actual allocations to underlying funds and investments is available in the Funds shareholder reports and on the Funds website from time to time.
The Fund is a to target date fund. This means that the Fund intends to reach its most conservative strategic target allocations by the end of the year of the target retirement date. When the strategic target allocations of the Fund are substantially the same as those of the JPMorgan SmartRetirement Income Fund, the Fund may be merged into the JPMorgan SmartRetirement Income Fund at the discretion of the Funds Board of Trustees. In addition to investing in mutual funds within the same group of investment companies, the Fund may invest in ETFs within the same group of investment companies (together with mutual funds within the same group of investment companies, J.P. Morgan Funds) and may, for the limited purposes described below, also invest in market cap weighted index ETFs that are managed by unaffiliated investment advisers (unaffiliated passive ETFs) (collectively with the J.P.
Morgan Funds, the underlying funds). The Fund may also invest directly in securities and derivatives. Derivatives are instruments that have a value based on another instrument, exchange rate or index such as futures. The Fund may use futures contracts to gain exposure to, or to overweight or underweight its investments among, various sectors or markets. The Fund may also use exchange traded futures for cash management and to gain market exposure pending investment in underlying funds. The Adviser will select and substitute underlying funds. In selecting underlying funds, the Adviser expects to select J.P. Morgan Funds without considering or canvassing the universe of unaffiliated underlying funds available, even though there may (or may not) be one or more unaffiliated underlying funds that investors might regard as more attractive for the Fund or that have superior returns.
For actively-managed underlying funds, the Adviser limits its selection to J.P. Morgan Funds. For passive ETFs, the Adviser expects to use a J.P. Morgan ETF unless the Adviser determines the investment is not available. To the extent the Adviser determines that an investment in a J.P. Morgan passive ETF is not available, only then will the Adviser consider an unaffiliated underlying fund.
JTTZX Holdings
Top 10 holdings of JPMorgan SmartRetirement 2020 Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| JPMorgan Core Bond Fund | 32.00% |
| JPMorgan Core Plus Bond Fund | 10.65% |
| JPMorgan U.S. Research Enhanced Equity Fund | 8.76% |
| JPMorgan U.S. Equity Fund | 8.73% |
| JPMorgan International Research Enhanced Equity ETF | 5.85% |
| JPMorgan High Yield Fund | 5.33% |
| JPMorgan Inflation Managed Bond ETF | 5.16% |
| JPMorgan U.S. Government Money Market Fund | 4.55% |
| JPMorgan Global Select Equity ETF | 3.95% |
| JPMorgan International Equity Fund | 3.17% |
JTTZX Portfolio Allocation
Asset-class allocation of JPMorgan SmartRetirement 2020 Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Other | 95.5% |
| Cash & Equivalents | 4.5% |
JTTZX Performance
Total returns for JTTZX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 4.9% |
| 3 years (annualised) | 3.0% |
| 5 years (annualised) | 5.8% |
JTTZX Risk Information
Risk metrics for JTTZX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 6.8%
JTTZX Costs and Fees
JTTZX costs about $109 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.09%
- Gross expense ratio: 1.13%
- Portfolio turnover: 17%
- Brokerage commissions: 0.66 bps of average net assets (SEC N-CEN)
JTTZX Cashflows
Over the 12 months to 2025-03, JPMorgan SmartRetirement 2020 Fund had net outflows of $226.26M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-03 | −$11.19M |
| 2025-02 | −$18.13M |
| 2025-01 | $15.54M |
| 2024-12 | −$14.57M |
| 2024-11 | −$11.47M |
| 2024-10 | −$25.44M |
JTTZX Debt Constituents
No individual debt constituents are reported in JPMorgan SmartRetirement 2020 Fund's latest SEC N-PORT filing.
JTTZX Prospectus and SEC Filings
Official JPMorgan SmartRetirement 2020 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-10-25
- Prospectus (485BPOS) — filed 2023-10-24
- Prospectus (485BPOS) — filed 2022-10-25
- Portfolio holdings (N-PORT) — filed 2025-05-28
- Portfolio holdings (N-PORT) — filed 2025-02-26
- Portfolio holdings (N-PORT) — filed 2024-11-27
- Annual census (N-CEN) — filed 2024-09-13
- Annual census (N-CEN) — filed 2023-09-13
Related Funds
Other Target Date / Glide Path Allocation funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.